08-09: Apartments, AutoZone, Friendly's, Retail Centers

1. Shopping Center in Bakersfield, CA: 18,200 SF attractive new shopping center on 1.7 ac lot at a hard corner location and close to Hwy-58. 55% leased. Actual NOI $113K/yr. $1.95M. 5.8% actual cap. Upside potential when fully leased.
2. Apartments in Edmond, OK: 100-unit well kept multifamily complex on 5 ac lot in fast growing and upper middle-class (AHI $80K/yr in 3 mile radius) Oklahoma City suburbs. New exterior siding and roof. Amenities including laundry room, courtyard with playground, and swimming pool. Close to parks, power centers and Hwy-77. NOI $394K/yr. $4.8M. 8.22% cap.
3. Shopping Center in Granada Hills, CA: 23,922 SF attractive shopping center recently renovated on 3+ ac lot in densely populated & high income (AHI $111K/yr in 1 mile) Los Angeles suburbs. National tenants include: Starbucks, Pacific Dental, State Farm Ins, The UPS Store, Curves and  BofA ATM machines. 100% NNN leased. NOI $64K/yr. $10.73M. 6% cap.
4. Retail Center in Visalia, CA: 14,730 SF high-quality retail center built in 2006 on 1.83 ac outparcel to Packwood Creek, a Power Center anchored by Target and Lowe’s Across from Walmart and Costco. Near Sequoia Mall. 100% NNN leased to Round Table Pizza, Picture People and Ulta Beauty. NOI $382K/yr. $6.38M. 6% cap.
5.  Retail Building in Indianapolis, IN: 7225 SF built-to-suit retail building on nearly 1 ac lot at a hard corner location and along main retail corridor. Across from 1+MM SF Lafayette Square Mall and near I-65. 100% NNN leased to LensCrafters with 4 yrs left.  NOI $112K/yr. $1.318M. 8.50% cap.
6. AutoZone in Aurora, IL: 5360 SF AutoZone built in 2002 on .73 ac lot along busy retail corridor in Chicago metro. Close to Presence Mercy Medical Center. Recently extended absolute NNN corp ground lease (land is for sale) with 9 yrs left. NOI $58K/yr. $983K. 6% cap.
7. Shopping Center in San Diego, CA: 51,693 SF well maintained consisting of three retail buildings on nearly 3 ac lot at major retail artery. Anchored by Office Depot. High barriers to entry. Close to I-805. 100% leased.  NOI $658K/yr. $9.75M. 6.75% cap.
8. Friendly’s Restaurant in Phillipsburg, NJ: 6000 SF Friendly’s Restaurant built in 2007 on 2+ ac outparcel to Phillipsburg Mall. In high income New York metro with an AHI of $104K/yr in 1 mile. 20 yrs absolute NNN ground lease (land is for sale) with 14 yrs left to an operator with 8 locations.  NOI $94K/yr with 5% rent increases every 5 yrs. $1.392M. 6.79% cap.
9. Shopping Center in Garland, TX: 20,040 SF well kept shopping center on 2.62 ac lot in fast growing Dallas suburbs. 100% NNN leased. NOI $123K/yr. $1.499M. 8.26% cap.
10. Retail Center in Carpentersville, IL: 18,144 SF retail center built in 2004 on 2.40 ac lot at main thoroughfare in Chicago suburbs. Fast growing (104.37% pop growth since 2000) and high income area with an AHI of $113K/yr in 3 miles. 100% NNN leased. NOI $385K/yr. $3.5M. 8.50% cap.

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